The Telegraph claims Arsenal have already agreed a deal in principle with the player and, with reports the club have tabled a bid of £22 million, are now waiting to negotiate a price with the La Liga side.

Barcelona appear keen for Sanchez to move to Liverpool in a bid to ease negotiations and lower the outright cash fee, of between £70-80m, Liverpool want for Luis Suarez. The Mirror claims the Spanish giants have granted Sanchez permission to open talks with the Anfield club.

However, Sanchez's suggested preference for a move to London combined with Arsenal's heavy interest could prove to be a stumbling block in the Suarez deal, prolonging negotiations between the clubs over fee payment instalments.

Representatives from Barcelona and Liverpool met this week to discuss the transfer of Suarez and, while a deal is not yet in place, both clubs came away indicating talks had been "positive".

FIFA have also paved the way, confirming Suarez is free to join Barcelona despite the player serving a four-month ban from all football-related activity for biting Italy's Giorgio Chiellini.

Liverpool have indicated they are not willing to budge on Suarez's price, which is thought to be based on a buyout clause in the Uruguayan's contract, and are confident of obtaining it.

They would likely accept a smaller fee should £30m-rated Sanchez be happy to move to Merseyside. The striker, currently on holiday following Chile's exit from the World Cup in Brazil, will have ultimately have the final say on where he wants to move.